Banks sanction about Rs 90,000 cr to 11 million Kisan Credit Card holders

Finance Minister Nirmala Sitharaman on Monday said banks have sanctioned Rs 89,810 crore to about 11 million Kisan Credit Card (KCC) holders to help farmers meet finances for kharif sowing and allied activities.

As part of the Rs 20.97 trillion stimulus package, the government had announced Rs 2 trillion of concessional credit through KCC to 25 million farmers, including fishermen and those involved in animal husbandry.

"As on 24.07.2020, 11.19 million Kisan Credit Cards have been sanctioned with credit limit of Rs 89,810 crore out of Rs 2 trillion concessional credit under the #AatmanirbharBharat package. This will benefit 25 million farmers, including fishermen & dairy farmers," the Finance Minister said in a tweet.

This marks an increase of Rs 26,940 crore over Rs 62,870 crore sanctioned to 703.2 million KCC holders as on June 30, she said.